Characteristics

Author

Entrepreneurs have a need for achievement and express three characteristics: they take personal responsibility for their decisions, they set goals and strive to achieve them, and they accept feedback on their actions.

McClelland (1961)

An entrepreneur combines the characteristics of innovation, proactivity and willingness to take risks.

Miller (1983)

The entrepreneur has initiative, assertiveness, is oriented toward efficiency, plans systematically and is committed to results.

McClelland (1987)

Entrepreneurs tend to be individuals who are different from the average population. They are not predictable. It seems that any attempt to profile the typical entrepreneur is a less-than-fruitful effort.

Low & McMillan (1988)

An entrepreneur creates something of value by dedicating time and effort and by assuming the financial, psychological and social risks in return for financial rewards and personal satisfaction.

Hisrich (1990)

Entrepreneurs have a propensity to make decisions and may express overconfidence. They can persuade people around them. This behavior sometimes drives decisions that, if they had been made rationally, would have taken a longer time, perhaps resulting in the loss of the opportunity.

Busenitz & Barney (1997)

Entrepreneurs have a need for achievement, a propensity to take risks and a preference for innovation.

Stewart Jr. et al. (1999)

By concentrating their efforts on anticipating market demands, entrepreneurs are in a strong position to offer new products and services as well as reap significant results in terms of performance.

Ireland et al. (2003)

Entrepreneurs are committed to business growth and have a good understanding of their customers which was developed from previous experience in the sector of interest.

Barringer et al. (2005)